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Tuesday May 5, 2020 – Central Bank of Kenya Governor, Dr Patrick Njoroge, has revealed the time when Kenya’s economy will bounce back from effects of Coronavirus.
In a statement on Tuesday, Dr Njoroge said that he expects the economy to bounce back at the beginning of 2021.
The Governor further said that the economy was forecast to grow by 6.4% in 2021 compared to the 2.3% growth this year.
“We expect 2021 to be a rebound.”
“Currently, roughly the estimate is around 6.4%.”
“But I think the point is we will revise that, given the uncertainties that we have,” he told an online news conference.
Kenya’s economy has been hit by the locust invasion and now the worldwide coronavirus pandemic.
Among the most affected sectors are tourism, horticulture and manufacturing, all struggling to cope with effects of COVID19.
Dr Njoroge’s projection is more positive compared to adverse predictions by the World Bank of a 5.2% growth in 2021.
The Kenyan DAILY POST